Members of Congress routinely trade stocks, buying and selling the shares of companies that often have significant business before the federal governm

Sen. Elizabeth Warren wants to bar members of Congress from ever trading individual stocks again

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2021-05-24 23:30:02

Members of Congress routinely trade stocks, buying and selling the shares of companies that often have significant business before the federal government — and that sometimes spend lots of money to lobby lawmakers.

Insider interviewed officials on Capitol Hill and dug through congressional financial disclosure records federal that lawmakers filed in recent days. Here are the latest highlights from what we've found.

Sen. Elizabeth Warren plans to introduce legislation during this congressional session that would bar members of Congress and other top government officials from buying and selling individual stocks, she told Insider.

"It is a no-brainer," said Warren, a Massachusetts Democrat. "Every senator, member of Congress, president, Cabinet secretary, federal judge, and other senior officials in charge of writing the rules for our financial system should not be able to own or trade individual stocks."

The legislation would be based on the Anti-Corruption and Public Integrity Act, which Warren introduced in 2018 and reintroduced in 2020, both times without Senate cosponsors. Rep. Pramila Jayapal, a Washington Democrat, sponsored companion legislation in the House last year.

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